Moody National Bank
Encyclopedia
Moody National Bank is a nationally chartered bank
, founded in 1907, that is based in Galveston, Texas
, USA.
With assets of nearly $1 billion dollars Moody Bank is one of oldest and largest privately owned Texas-based banks. Its trust department, established in 1927, administers over $15.5 billion dollars in assets, and is the largest domiciled in the state of Texas. The company offers a full range of commercial and consumer banking products, as well as trust and investment banking services to customers throughout Southeast Texas
and Central Texas
, including the Greater Houston
area.
The bank is unique in that through its trust department, it has defacto control of the American National Insurance Company
(ANICO), one of the largest life and property/casualty companies in the U.S. The bank's trust department administers the Moody Foundation
and the Libbie Shearn Moody Trust, which together own the majority of ANICO's shares.
Moody National Bank is a wholly owned subsidiary of Moody Bancshares, Inc., a privately owned financial holding company, also based in Galveston. Moody Bancshares also maintains a controlling interest in Galveston-based Hometown Bank N.A.
In 1907, Galveston businessman William Lewis Moody, Jr.
founded the City National Bank in the Trust Building in downtown Galveston. The new bank quickly grew and by 1920 a new building was constructed a block away on Market Street.
During its early years the City National Bank merged with the Galveston National Bank and continued to steadily grow in size and assets. In 1953 the board of directors decided to honor the bank's founder by changing the name to Moody National Bank. A year later Mr. Moody died and his daughter, Mary Moody Northen
assumed control of the bank and ANICO.
By 1962 the bank had outgrown its neo-classical headquarters on Market Street, and a new seven-story building was constructed a block away. The old building, after sitting vacant for several years, was donated in 1972 by Ms. Northen to Galveston County for use as a historical museum dedicated to the memory of her father.
With the legalization of branch banking in Texas in 1988, Moody National Bank merged with sister bank, South Shore National Bank in League City, Texas
. South Shore National Bank had been established by the Moody Family to provide financial services to the South Shore Harbor subdivision, which was being developed by their family controlled insurance company, the American National Insurance Company
.
By the 2000s MNB began to spread out from its traditional base of Galveston County opening offices in Brazoria
, Fort Bend
, Harris
and Travis
counties.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
, founded in 1907, that is based in Galveston, Texas
Galveston, Texas
Galveston is a coastal city located on Galveston Island in the U.S. state of Texas. , the city had a total population of 47,743 within an area of...
, USA.
With assets of nearly $1 billion dollars Moody Bank is one of oldest and largest privately owned Texas-based banks. Its trust department, established in 1927, administers over $15.5 billion dollars in assets, and is the largest domiciled in the state of Texas. The company offers a full range of commercial and consumer banking products, as well as trust and investment banking services to customers throughout Southeast Texas
Southeast Texas
Southeast Texas is a subregion of East Texas located in the southeast corner of the U.S. state of Texas. The subregion is geographically centered around the Houston–Sugar Land–Baytown and Beaumont–Port Arthur metropolitan areas...
and Central Texas
Central Texas
Central Texas , is a region in the U.S. state of Texas. It is roughly bordered by San Marcos to Fredericksburg to Waco, and to Brenham, and includes the Austin–Round Rock, Killeen-Temple-Fort Hood, Bryan-College Station, and Waco metropolitan areas...
, including the Greater Houston
Greater Houston
Houston–Sugar Land–Baytown is a 10-county metropolitan area defined by the Office of Management and Budget. It is located along the Gulf Coast region in the U.S. state of Texas...
area.
The bank is unique in that through its trust department, it has defacto control of the American National Insurance Company
American National Insurance Company
American National Insurance Company is a major American insurance corporation based in Galveston, Texas. The company and its subsidiaries operate in all 50 U.S. states, the District of Columbia, Puerto Rico, and American Samoa.-Company description:...
(ANICO), one of the largest life and property/casualty companies in the U.S. The bank's trust department administers the Moody Foundation
Moody Foundation
The Moody Foundation is a charitable foundation incorporated in Texas and based in the island city of Galveston. It was chartered in 1942 by William Lewis Moody, Jr...
and the Libbie Shearn Moody Trust, which together own the majority of ANICO's shares.
Moody National Bank is a wholly owned subsidiary of Moody Bancshares, Inc., a privately owned financial holding company, also based in Galveston. Moody Bancshares also maintains a controlling interest in Galveston-based Hometown Bank N.A.
History
William Lewis Moody, Jr.
William Lewis Moody Jr. was an American financier and entrepreneur from Galveston, Texas, who founded a private bank, an insurance company, and one of the largest charitable foundations in the United States. Moody was active in the day-to-day operations of his companies until two days before his...
founded the City National Bank in the Trust Building in downtown Galveston. The new bank quickly grew and by 1920 a new building was constructed a block away on Market Street.
During its early years the City National Bank merged with the Galveston National Bank and continued to steadily grow in size and assets. In 1953 the board of directors decided to honor the bank's founder by changing the name to Moody National Bank. A year later Mr. Moody died and his daughter, Mary Moody Northen
Mary Moody Northen
Mary Elizabeth Moody Northen was an American financier and philanthropist from Galveston, Texas. She was the daughter of financial and insurance tycoon William Lewis Moody, Jr. and aunt of businessman Shearn Moody, Jr....
assumed control of the bank and ANICO.
By 1962 the bank had outgrown its neo-classical headquarters on Market Street, and a new seven-story building was constructed a block away. The old building, after sitting vacant for several years, was donated in 1972 by Ms. Northen to Galveston County for use as a historical museum dedicated to the memory of her father.
With the legalization of branch banking in Texas in 1988, Moody National Bank merged with sister bank, South Shore National Bank in League City, Texas
League City, Texas
League City is a city in Galveston County and Harris County in the U.S. state of Texas, within the metropolitan area. As of the 2000 U.S. Census, the city population was 45,444; in the 2006 census estimate, the population was listed as 67,200. The 2010 Census places the population of League City...
. South Shore National Bank had been established by the Moody Family to provide financial services to the South Shore Harbor subdivision, which was being developed by their family controlled insurance company, the American National Insurance Company
American National Insurance Company
American National Insurance Company is a major American insurance corporation based in Galveston, Texas. The company and its subsidiaries operate in all 50 U.S. states, the District of Columbia, Puerto Rico, and American Samoa.-Company description:...
.
By the 2000s MNB began to spread out from its traditional base of Galveston County opening offices in Brazoria
Brazoria County, Texas
Brazoria County[p] is a county in the U.S. state of Texas, located on the Gulf Coast within the Houston–Sugar Land–Baytown metropolitan area. Regionally, parts of the county are within the extreme southern-most fringe of the regions locally known as Southeast Texas. Brazoria County is among a...
, Fort Bend
Fort Bend County, Texas
Fort Bend County is a county located along the Gulf Coast region in the U.S. state of Texas within the Houston–Sugar Land–Baytown metropolitan area. In 2000 its population was 354,452, while the 2010 U.S...
, Harris
Harris County, Texas
As of the 2010 Census, the population of the county was 4,092,459, White Americans made up 56.6% of Harris County's population; non-Hispanic whites represented 33.0% of the population. Black Americans made up 18.9% of the population. Native Americans made up 0.7% of Harris County's population...
and Travis
Travis County, Texas
As of 2009, the U.S. census estimates there were 1,026,158 people, 320,766 households, and 183,798 families residing in the county. The population density was 821 people per square mile . There were 335,881 housing units at an average density of 340 per square mile...
counties.
Banking center locations
Moody National Bank operates 25 financial centers across Central and Southeast Texas in the following counties:- Brazoria CountyBrazoria County, TexasBrazoria County[p] is a county in the U.S. state of Texas, located on the Gulf Coast within the Houston–Sugar Land–Baytown metropolitan area. Regionally, parts of the county are within the extreme southern-most fringe of the regions locally known as Southeast Texas. Brazoria County is among a...
(6) - Fort Bend CountyFort Bend County, TexasFort Bend County is a county located along the Gulf Coast region in the U.S. state of Texas within the Houston–Sugar Land–Baytown metropolitan area. In 2000 its population was 354,452, while the 2010 U.S...
(2) - Galveston CountyGalveston County, TexasGalveston County is a county located in the U.S. state of Texas within the Houston–Sugar Land–Baytown metropolitan area. As of the 2010 U.S. Census, the population was 291,309. Its county seat is Galveston. League City is the largest city in Galveston County in terms of population; between...
(10) - Harris CountyHarris County, TexasAs of the 2010 Census, the population of the county was 4,092,459, White Americans made up 56.6% of Harris County's population; non-Hispanic whites represented 33.0% of the population. Black Americans made up 18.9% of the population. Native Americans made up 0.7% of Harris County's population...
(5) - Travis CountyTravis County, TexasAs of 2009, the U.S. census estimates there were 1,026,158 people, 320,766 households, and 183,798 families residing in the county. The population density was 821 people per square mile . There were 335,881 housing units at an average density of 340 per square mile...
(1)